2025, The Year of Global Recalibration. And What’s Coming in 2026
Thu Dec 18 2025
2025 was a year of global recalibration, and 2026 may test which assumptions truly hold.
In this episode of Multifamily Forward, we step back to examine how cooling labor data, late-year rate cuts and rising geopolitical risk reshaped market dynamics in 2025 and what those shifts signal for the year ahead.
We explore whether the Fed’s pivot points to a soft landing or emerging structural weakness, how energy volatility and supply-chain realignment are redirecting capital toward U.S. real assets, and which macro force, AI-driven industrialization, demographic aging or mounting fiscal pressure, will matter most for economic stability in 2026.
Turning to demand, we unpack why absorption has remained resilient despite slowing job growth in Phoenix, what changing renter behavior reveals about the post-pandemic demand equation, and how affordability constraints and delayed household formation are reshaping decision-making.
Finally, we assess the impact of peak supply, capital discipline and AI adoption, separating durable strategies from hype, and close with a contrarian question. What belief about the 2026 market are most investors and operators getting wrong?
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2025 was a year of global recalibration, and 2026 may test which assumptions truly hold. In this episode of Multifamily Forward, we step back to examine how cooling labor data, late-year rate cuts and rising geopolitical risk reshaped market dynamics in 2025 and what those shifts signal for the year ahead. We explore whether the Fed’s pivot points to a soft landing or emerging structural weakness, how energy volatility and supply-chain realignment are redirecting capital toward U.S. real assets, and which macro force, AI-driven industrialization, demographic aging or mounting fiscal pressure, will matter most for economic stability in 2026. Turning to demand, we unpack why absorption has remained resilient despite slowing job growth in Phoenix, what changing renter behavior reveals about the post-pandemic demand equation, and how affordability constraints and delayed household formation are reshaping decision-making. Finally, we assess the impact of peak supply, capital discipline and AI adoption, separating durable strategies from hype, and close with a contrarian question. What belief about the 2026 market are most investors and operators getting wrong?